Compute the amount for₹65536 invested for 1 and half years at 12 and half p.a.,the interest being compounded semi-annually .
Answers
The Amount will be Rs. 78608 (Here Interest taken as Compound Interest)
Step-by-step explanation:
Principal (P) = 65536
Time (T) = 1.5 years =1 ½ years
No. of Time Interval (n) = 3
Rate of Interest= 12.5 = 12 ½ % p.a. = 6 ¼ semi annually = 25/4 semi annually
A = P (1 + r/100)^n
A = 65536 {1 + (25/4)/100}^3
A = 65536 {1 + (25/400)}^3
A = 65536 {1 + (1/16)}^3
A = 65536 {1 + (1/16)}^3
A = 65536 (17/16)^3
A = 65536 (17 x 17 x 17 /16 x 16 x 16 )
A = (65536 x 4913) / 4096
A = 78608
So, The Amount will be Rs. 78608
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